TaxCalc Attracts Significant Investment from STG Allegro

Deal News | Nov 18, 2024 | HMT LLP

TaxCalc Attracts Significant Investment from STG Allegro

TaxCalc, a leading provider of tax compliance and practice management software for UK accounting firms, has received a significant investment from private equity firm STG Allegro. Founded in 2004 by Tracy Ebdon-Poole, TaxCalc has grown into an industry leader with more than 135 employees and over 11,000 accounting firm customers. The company, known for its innovative products such as CloudConnect, VAT Filer, and others, plans to utilize the new capital to enhance product offerings, invest in customer success, and develop new solutions for accounting firms transitioning from legacy software. HMT LLP acted as the lead advisor on this transaction, managing strategic options, investor identification, and facilitating negotiations. The partnership is seen as an alignment of values focused on customer and team-centric approaches. With STG's involvement, TaxCalc aims to explore an exciting growth phase while minimizing business disruption.

Sectors

  • Software
  • Private Equity
  • Accounting

Geography

  • United Kingdom – TaxCalc is a UK-based company providing software to UK accounting firms.
  • United States – STG Allegro, the private equity firm involved in the transaction, is based in the US.

Industry

  • Software – The article is centered around TaxCalc, which develops software for tax compliance and practice management.
  • Private Equity – STG Allegro's investment highlights the involvement of the private equity sector in funding and growth strategies within software companies.
  • Accounting – TaxCalc serves accounting firms and its software solutions are tailored to the tax compliance needs of these firms.

Financials

    Participants

    NameRoleTypeDescription
    TaxCalcTargetCompanyA leading provider of tax compliance and practice management software for accounting firms in the UK.
    STG AllegroInvestorPrivate Equity FirmA private equity partner specializing in data, software, and analytics companies.
    HMT LLPCorporate Finance AdvisorCompanyAdvised TaxCalc on the transaction, managing strategic options, identifying investors, and facilitating deal execution.
    Tracy Ebdon-PooleFounder and LeadershipPersonFounder of TaxCalc who has led the company from a small team to a leading software provider.
    Wendy HartCorporate AdvisorPersonPartner at HMT LLP who led the advisory team for TaxCalc.